Meet the Japanese Billionaire Who Just Bought the $110.5 Million Basquiat Painting
Yusaku Maezawa is one of the richest men in Japan, and he just spent $110.5
million on a Jean-Michel Basquiat painting, the highest price for a piece of
artwork by an American artist.
Besides being an is an avid art collector, Maezawa has a net worth of $3.6 billion, according to
Forbes. Here’s what to know about Maezawa.
How did he make his money?
Maezawa made his billions by creating the Start Today company, which is in the
electronic commerce industry, in 1998, according to Forbes. Maezawa
serves president and representative
director of the company, Reuters reports. He also created the company
Zozotown, Forbes reports, who notes it is Japan’s largest online
fashion mall.
What other art has he bought?
The Basquiat piece Maezawa bought is the most expensive painting sold
in by an American artist, according to CNN Money, but it was not the Japanese
billionaire’s first big art purchase. Maezawa previously purchased another
untitled painting by Basquiat for $57.3 million, the BBC reports. His other art purchases include works from
Jeff Koons, Christopher Wool and Richard Prince at prices varying in the
millions of dollars, according to the BBC. The Japan Times reported
that he spent $98 million on art within just
two days in 2016.
Maezawa told Forbes in April that he
started buying and collecting art 10 years ago and that he especially enjoys
collecting contemporary art.
— Yusaku Maezawa 前澤友作 (@yousuck2020) May 19, 2017
What does he do with the art?
The BBC reports that he is the founder of the Contemporary Art Foundation in
Tokyo, which puts on two shows a year. He is also planning to build a museum in
Chiba, Japan, just outside of Tokyo, according to Forbes.
CNN Money reported that Maezawa plans to loan his latest painting out
around world before putting it in his personal museum.
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